Brokerages Set Boston Properties, Inc. (NYSE:BXP) Target Price at $69.56

Boston Properties, Inc. (NYSE:BXP - Get Free Report) has been assigned an average rating of "Hold" from the seventeen brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $69.56.

Several equities research analysts recently weighed in on BXP shares. Barclays decreased their target price on Boston Properties from $67.00 to $66.00 and set an "equal weight" rating for the company in a research note on Wednesday. StockNews.com raised Boston Properties from a "sell" rating to a "hold" rating in a research report on Thursday, February 1st. Truist Financial cut their price target on Boston Properties from $77.00 to $75.00 and set a "hold" rating on the stock in a research report on Tuesday, March 5th. Jefferies Financial Group raised Boston Properties from a "hold" rating to a "buy" rating and lifted their price target for the stock from $57.00 to $80.00 in a research report on Tuesday, January 2nd. Finally, Piper Sandler increased their price objective on Boston Properties from $60.00 to $77.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 20th.

Boston Properties Trading Up 3.4 %

Shares of BXP traded up $2.16 during midday trading on Friday, hitting $65.31. 1,834,113 shares of the stock were exchanged, compared to its average volume of 1,414,643. Boston Properties has a 52-week low of $46.80 and a 52-week high of $73.97. The company has a debt-to-equity ratio of 1.99, a quick ratio of 5.40 and a current ratio of 5.40. The stock has a fifty day simple moving average of $65.33 and a 200 day simple moving average of $62.71. The firm has a market cap of $10.25 billion, a P/E ratio of 53.98 and a beta of 1.15.

Boston Properties (NYSE:BXP - Get Free Report) last released its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($1.05). The firm had revenue of $828.90 million during the quarter, compared to analyst estimates of $811.59 million. Boston Properties had a net margin of 5.81% and a return on equity of 2.32%. The business's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. On average, research analysts anticipate that Boston Properties will post 7.12 EPS for the current fiscal year.

Boston Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Wednesday, March 27th. Boston Properties's payout ratio is currently 323.97%.

Insider Activity at Boston Properties

In related news, EVP Raymond A. Ritchey sold 14,150 shares of Boston Properties stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $62.84, for a total value of $889,186.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Boston Properties during the fourth quarter worth about $890,848,000. Moneta Group Investment Advisors LLC increased its holdings in Boston Properties by 107,870.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,991,255 shares of the real estate investment trust's stock valued at $404,889,000 after buying an additional 5,985,706 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Boston Properties by 527.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,150,133 shares of the real estate investment trust's stock valued at $77,726,000 after buying an additional 966,887 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Boston Properties by 86.2% in the third quarter. Ameriprise Financial Inc. now owns 1,957,055 shares of the real estate investment trust's stock valued at $112,977,000 after buying an additional 906,069 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Boston Properties by 92.4% in the second quarter. Goldman Sachs Group Inc. now owns 1,694,522 shares of the real estate investment trust's stock valued at $97,588,000 after buying an additional 813,929 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Boston Properties Company Profile

Boston Properties, Inc NYSE: BXP (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.